Westpac Banking Corp increased its position in Eaton Vance Corp. (NYSE:EV) by 26.4% during the second quarter, Holdings Channel reports. The institutional investor owned 7,577 shares of the company’s stock after buying an additional 1,581 shares during the period. Westpac Banking Corp’s holdings in Eaton Vance Corp. were worth $268,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its stake in shares of Eaton Vance Corp. by 24.4% in the first quarter. Goldman Sachs Group Inc. now owns 330,356 shares of the company’s stock worth $11,074,000 after buying an additional 64,890 shares in the last quarter. Rafferty Asset Management LLC boosted its stake in Eaton Vance Corp. by 49.0% in the first quarter. Rafferty Asset Management LLC now owns 15,547 shares of the company’s stock worth $521,000 after buying an additional 5,112 shares during the period. State Street Corp boosted its stake in Eaton Vance Corp. by 9.9% in the first quarter. State Street Corp now owns 9,593,020 shares of the company’s stock worth $321,555,000 after buying an additional 866,198 shares during the period. Zebra Capital Management LLC boosted its stake in Eaton Vance Corp. by 30.5% in the first quarter. Zebra Capital Management LLC now owns 45,892 shares of the company’s stock worth $1,538,000 after buying an additional 10,715 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Eaton Vance Corp. by 24.7% in the first quarter. JPMorgan Chase & Co. now owns 1,393,494 shares of the company’s stock worth $46,710,000 after buying an additional 275,913 shares during the period. Institutional investors own 70.88% of the company’s stock.
Shares of Eaton Vance Corp. (NYSE:EV) opened at 38.37 on Friday. The firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of 18.43 and a beta of 1.76. Eaton Vance Corp. has a 12-month low of $26.44 and a 12-month high of $40.36. The stock’s 50 day moving average price is $39.19 and its 200 day moving average price is $36.56.
Eaton Vance Corp. (NYSE:EV) last announced its earnings results on Wednesday, August 17th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.01. The company had revenue of $341.20 million for the quarter. Eaton Vance Corp. had a return on equity of 39.06% and a net margin of 17.83%. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.57 EPS. Equities research analysts expect that Eaton Vance Corp. will post $2.13 earnings per share for the current year.
A number of equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods increased their price target on Eaton Vance Corp. from $38.00 to $40.00 and gave the company a “market perform” rating in a research note on Friday, August 19th. Jefferies Group restated a “hold” rating on shares of Eaton Vance Corp. in a research note on Monday, August 1st. Zacks Investment Research upgraded Eaton Vance Corp. from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research note on Tuesday, July 19th. Finally, Credit Suisse Group AG restated a “hold” rating and issued a $37.00 price target on shares of Eaton Vance Corp. in a research note on Thursday, September 1st. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Eaton Vance Corp. currently has a consensus rating of “Hold” and a consensus target price of $37.54.
In related news, Director Dorothy E. Puhy sold 6,197 shares of Eaton Vance Corp. stock in a transaction on Monday, September 19th. The stock was sold at an average price of $38.75, for a total transaction of $240,133.75. Following the sale, the director now directly owns 15,787 shares in the company, valued at $611,746.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brian D. Langstraat sold 38,012 shares of Eaton Vance Corp. stock in a transaction on Monday, August 29th. The stock was sold at an average price of $39.79, for a total value of $1,512,497.48. Following the sale, the director now owns 107,712 shares in the company, valued at $4,285,860.48. The disclosure for this sale can be found here.
About Eaton Vance Corp.
Eaton Vance Corp. is engaged in business of managing investment funds and providing investment management and advisory services to individuals and institutions. The Company seeks to develop and sustain management expertise across a range of investment disciplines, and offer investment products and services through various distribution channels.
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